Fed Governor Adriana Kugler to resign
LUXEMBOURG - Moolec Science SA (NASDAQ:MLEC), a micro-cap biotechnology company currently trading at $0.91 with a market capitalization of $36.5 million, specializing in the production of animal proteins and nutritional oils in plants, has announced a reverse stock split at a ratio of one-for-ten. The consolidation is scheduled to take effect on May 14, 2025, at the start of trading. According to InvestingPro data, the stock has shown significant momentum with a 19.7% return over the past week.
This corporate action will reduce the number of issued and outstanding shares from approximately 40 million to 4 million, without altering the par value per share. The reverse stock split was approved by shareholders and the board of directors on April 22, 2025, and aims to consolidate shares to potentially improve the marketability and liquidity of the company’s stock. InvestingPro analysis indicates the company faces some financial challenges, with weak gross profit margins and rapid cash burn, making this corporate action particularly significant for investors.
Shares of Moolec Science will continue to trade on the NASDAQ with the ticker symbol "MLEC" and a new CUSIP code. The company’s publicly traded warrants will still be available under the symbol "MLECW."
Registered shareholders will automatically receive the adjusted number of shares reflecting the reverse stock split, with no action required on their part. Those holding shares through brokerage firms or other nominees will also have their positions automatically adjusted, in line with the respective processes of their brokers or nominees.
The reverse stock split is a structural change and does not impact Moolec Science’s business operations or its long-term strategy. The company’s management has not provided any commentary on the reasons behind the reverse stock split or its expected impact on the company’s future performance.
As with all forward-looking statements, this announcement contains projections and assumptions subject to risks and uncertainties, and actual results could differ materially from those anticipated.
This news is based on a press release statement from Moolec Science SA.
In other recent news, Moolec Science SA has announced several significant corporate changes following a shareholder meeting. Shareholders approved a redomiciliation to the Cayman Islands and a share consolidation, with a reverse stock split ratio set at 10:1. This decision comes amid efforts to comply with Nasdaq’s minimum bid price requirement, as the company faces potential delisting. Moolec received a temporary exception from Nasdaq to meet this requirement by May 30, 2025, which includes maintaining a closing bid price of at least $1 for ten consecutive business days. The extraordinary general meeting also authorized an increase in the company’s capital, creating an authorized capital of $5 billion. Additionally, the meeting ratified the appointments of two new board members, Diego Nicolás Marcos and Oscar Alejandro León Bentancor. Moolec’s management, led by CEO Gastón Paladini, is actively working on these changes to sustain the company’s Nasdaq listing. The company’s strategic decisions and compliance efforts are part of its ongoing operations and regulatory navigation.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.